Pento – US Debt Surges A stunning $7 Trillion In Just 6 Years
April 29, 2013
Today one of the top economists in the world sent King World News an exclusive piece covering the tragic reality of what is really taking place with the US economy, and mounting debt. Michael Pento, who heads Pento Portfolio Strategies, also spoke about what investors can do to protect themselves. Below is his tremendous piece.
“The government will make a significant change in the gross investment number, which will now include research and development spending, art, music, film and book royalties, and other forms of entertainment as the equivalent of tangible goods production. The U.S. will be the first nation on earth to pull off this magical GDP trick.
But the shenanigans played by government may fool some people into thinking that growth in the U.S. is gaining strength. It may even convince some investors that the debt and deficit to GDP ratio is falling. In addition, it may cause politicians to claim that government spending as a share of the economy is shrinking, so it’s OK to ramp up the largess….